The Indianapolis journal. [volume] (Indianapolis [Ind.]) 1867-1904, 1887-01-24
Railroad Pools.

TO the Editor of the Indianapolis Journal:
In my last intended to say $50, GOO, and not
$40, 600, as is printed.
Idesire to say some more some features of
the interstate commerce bill. Assuming that
Congress has some control over the interstate
common carriers, how far should it 60 in its first
step to correct the evila It is of the fiji N
portance that the first step he in the rig
rection. What is the great evil that the p %
complain of 1t is that the roads combine to put
up the price of freghts. thus taxing what they
have to sell and what they have to buy. What
remedies do they ask Surely not the legalizing of
these combinations, but the making OF such COM
binations still more illegal and aft king penalties
for entering into them, and prosecuting attorneys
to that the laws are obeyed
This would be a very important first step. If
you don't believe it try it. You will hear the
growl of the lion in short meter. The provis-
ions of such simple law could be enforced with
out protracted and uncertain litigation.
Some have supposed that the commission pro-
vided for in the bill will make freight rates
sonable This is likely to prove a delusion. The
government in all such cases is the weaker party.
There is in the judgments of men wide mar
gin between what is reasonable and unreason-
able rates. The interested party will always get
the best of the arrangement Besides there
men sometimes found on such commissions who
take more pains to throw what they call a "tub
to the whale than in a conscientious discharge
of their duties
We do not forget that there have been cadet
merchants salary -grab hers. credit mobiliers;
nor do we forget that a man of congressional
fame. when called to testify before n committee
of Congress, with his checks of So 600, 500, GOO
and $50, 900 each staring him in the face. said in
answer TO the question OF the committee. Nv hat
did you do with that money!" answered that on
that question his mind was blank. Neither do
we forget that there is Jacob Sharp and alder
men of the city of New York. Nor can we gain
say the suspicion that there other Jacob
| Sharps and aldermen outside of that city. Few
men who are fit to serve on such commission
would like to accept its responsibilities and risks.
! The uneasiness and unrest now pervading the
| community should not be aggravated.
NY remedy is free and ''unbridled' competi-
ton. Let every tub stand on its own bottom Fair
/ play and no underholds The people have no
| enmity against railroads: but when, as Senator
| Call stated in the Senate, on the authority of
| Mr.. Poor. that the railroads were receiving dvi-
dends on three thousand millions Of dollars OF
fictitious capital over and above the actual cost
| of the roads. we feel that there is screw loose
somewhere: that we are not being fairly treated;
/ that the railroads show pretty sharp DISPOSE
| ton to take underhods. In view of these facts
! Senators say that competition will ruin those
| roads No man is justified in making such a
! statement. Wherever free competition exists
| prices will be brought down to an equitable
| standard; they may sometimes go below, as
| thew often go above. In this rough and tumble
world of ours the struggle for existence ne
| comes sharper and sharper. Some reach
| the tonmost round, some descerd to the bot
| tom. never to rise again, while others commence
| the tolsome ascent anew, soberer and wiser
than before. This is the common lot of human
itv, and we are not prepared to exempt railroads
| from the common fate of all. The community
| will sustain just as many roads as are necessary
| to do the busidess If there be more roads tn an
| can be used some must suffer- Too many mid
dlemen tax on trade, and will be dispensed
| with in time.
We are having failures al! around us in every
branch of business Many roads are in the
| hands of receivers, yet freight goes forward as
usual. 1t is virtually said that low freiehts will
| not benefit Suppose the $500, 000, 600 now
said to be received by the roads on a fictitious
capital of So, 600, 900 were left with
| the people, what would be the conse
| ouence2 In few years the present roads
would be insufficient to move the freight of the
country. The farmers would give employment,
to more help at increased wages; enlarge the
area Of cultivation: buy the most approved ma
chnery; furnish better market to the manu-
facturers. In fact, the entire community would
be seen to take fresh start, the long depression
in trade would be broken; new era in the ad
vance of prices and of real estate would at ono,
be inaugurated.
Who would not like to SEQ this in preference,
to the hard times caused by the mammoth mo
nopoes now overshadowing the land9
We should realize that we have virgin soil
and that liberal profits from its cultlyatio,
should be the rule and not the exception.
| G.. W, BARROJrR